Loan to Buy Snap Fitness Franchise Issued By Greenville Community Bank

Need money to invest in a Snap Fitness franchise? Greenville Community Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Snap Fitness franchise? If so, here's a 2007 SBA franchise loan that you should know about. Greenville Community Bank was the lender and the entrepreneur was based in Lowell, Michigan.

SBA Loan Borrower

GO FOR IT LLC
LOWELL, MI 49331

SBA Loan Lender

GREENVILLE COMMUNITY BANK
1405 W WASHINGTON ST
GREENVILLE, MI 48838

The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

7/24/2007

Loan Approval Gross Amount

$130,200

Loan Approval from the SBA

Of the total $130,200 loan amount, the SBA guaranteed $65,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snap Fitness franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the borrowed money would help create 3 new jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $130,200 loan. Remember, feel the fear, and do it anyway.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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